【Hong Kong Stock Market】Hang Seng Index rebounds over 100 points; Pop Mart plunges 20% after earnings; Expectations of food delivery war ending, Meituan surges 10% (continuously updated)

【Hang Seng Index / Hang Seng / HS / HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks opened higher but softened, closing slightly higher at midday. Signs of easing in Middle East conflicts helped, with the Hang Seng Index opening up 216 points at 25,280, reaching a high of 25,390 after rising 326 points at the open. The gains narrowed later, with the Hang Seng Index up only 9 points at midday, at 25,072, with a turnover of HKD 151.29 billion. The Tech Index underperformed, falling 0.5% to 4,807 points. Zijin (02899) rose over 1%, CNOOC (00883) fell over 3%, Xiaomi (01810) dropped nearly 3% after earnings, and Nongfu Spring (09633) surged over 8% after earnings.

US stocks are continuously updating; see details on the next page.

Financial Daily:

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Market Trends:

【14:10】Pop Mart (09992) fell by 20%, hitting a low of HKD 172.6.

【13:57】The market rose about 300 points in the afternoon but the gain narrowed to around 130 points.

【13:57】【Food Delivery War】Meituan’s stock surged 10% in the afternoon; JD.com and Alibaba up 5%. The Market Supervision Bureau reposted an article: “The food delivery war should end.”

【13:39】Meituan (03690), which will announce earnings tomorrow, rose 10% to a high of HKD 87.5. Alibaba (09988) also gained over 5%, while Tencent (00700) was slightly soft, down 0.5%.

【13:34】Meituan (03690) jumped 7%, reaching HKD 85.85.

【13:33】Hong Kong stocks turned higher by over 100 points, with the Hang Seng Index at 25,226, up 162 points, with HKD 183.7 billion in turnover. The Tech Index rose 1.1% to 4,885.

【13:27】【HK Stock Analysis】 The Hang Seng Index once surged over 300 points, briefly crossing the bull-bear line. Analysis: If a ceasefire agreement is ultimately reached, Hong Kong stocks could rise to around 26,300 points.

【13:24】【9633 Analysis】 Nongfu Spring (09633) surged nearly 10% after earnings, beating profit and revenue expectations. Analysis: The results are “impeccable.”

【13:11】【371 Earnings】Beijing Enterprises Water (371) net profit fell 6.9% last year; final dividend increased over 1% to HKD 0.0925.

【13:06】Hong Kong stocks turned lower by about 20 points, at 25,041.

【13:06】Pop Mart (09992) stock dropped over 14% after earnings, hitting HKD 185.

【12:47】【9992 Earnings】Pop Mart’s net profit last year was HKD 12.78 billion, nearly tripling; 17 IPs earned over HKD 100 million; The Monsters earned HKD 14.16 billion, and Star People’s income grew 16-fold.

【12:37】【6181 Major Bank Report】Old shop gold stocks are favored by two foreign institutions, but Nomura lowered its target price by 5%, citing gold price concerns.

【12:30】【Sports Goods 2020 Earnings】Anta’s net profit fell 12.9% to HKD 13.59 billion; revenue first exceeded HKD 80 billion; final dividend HKD 1.08.

【12:00】 The Hang Seng Index rose slightly by 9 points at midday, at 25,072, with HKD 151.29 billion in turnover. The Tech Index underperformed, down 0.5%, at 4,807. The following stocks moved: Zijin (02899) up over 1%, CNOOC (00883) down over 3%, Xiaomi (01810) fell nearly 3% after earnings, Nongfu Spring (09633) surged over 8% after earnings.

【11:53】Zejing Holdings (02632), which dipped yesterday, rebounded 60% on its first day of listing, reaching HKD 45.6.

【11:46】Hong Kong stocks’ midday gains narrowed to about 30 points.

【11:44】【1810 Analysis】Xiaomi (01810) fell over 3%; smartphone gross margin dropped to 8.3%; capital expenditure doubled. He Qi Cong: Low gross margin + cost pressure.

【11:32】【9992】Pop Mart’s earnings before market open rose 3%; will launch World Cup series toys with FIFA, and Labubu will hold the World Cup trophy.

【11:09】【3320 Earnings】China Resources Pharmaceutical (3320) surged over 10% after earnings; profit increased 20% last year; interim dividend up 1.3 times to HKD 0.122.

【11:03】Tencent (00700) down over 1%; Alibaba (09988) up nearly 1%; Meituan (03690) up over 1%.

【10:59】Wuxi Biologics (02269) fell 3% against the trend.

【Wuxi Biologics 2269 Earnings】Net profit last year increased 46% year-on-year; gross margin rose to 46%.

【10:51】Market’s gain further narrowed to about 150 points, hovering around 25,200.

【10:48】【China-US Relations】China Investment Corporation reportedly considering reallocating assets to US asset managers.

【10:26】【CKH sells ports】CKH’s Panama port claim increased to over USD 2 billion, accusing the Panamanian government of attempting to delay international arbitration.

【10:19】CKH (00001) rose 2%; its Panama port company said it expanded its claim in the arbitration case, stating that after the government’s “illegal takeover” of port facilities and assets a month ago, losses have now exceeded USD 2 billion.

【10:16】The Hang Seng Index initially surged up to 326 points, reaching 25,390; the latest gain slowed to about 207 points, at 25,271, with HKD 90.5 billion in turnover. The Tech Index rose 1.4% to 4,900.

【09:43】SenseTime (00020) narrowed net loss, rising over 5% to a high of HKD 2.02.

【SenseTime Earnings】Net loss last year narrowed 59% to RMB 1.77 billion; first EBITDA recorded in the second half.

【09:43】WH Group (00288) rose over 4% after earnings; early high of HKD 10.05.

Pork stock earnings｜WH Group: China’s meat sales expected to turn positive this year; Middle East conflicts have limited impact; full-year pre-fair value adjustment profit up 8.2%, final dividend HKD 0.41.

【09:43】Zijin (02899) up over 4%; Zijin Gold International (02259) up over 7%; Shandong Gold (01787) up 5%; Lingbao Gold (03330) up 8%.

【Gold Price Trend】Gold prices ended nine consecutive declines! Spot gold back above USD 4,500 per ounce; local gold price increased HKD 1,800 per tael in a single day.

【09:22】The Hang Seng Index opened higher by 216 points at 25,280, with HKD 49.2 billion in turnover. Xiaomi (01810) fell 2% after earnings; Alibaba (09988) rose over 1%; Zijin (02899) up nearly 4%; CNOOC (00883) down 3%.

【1810 Earnings】Xiaomi’s Lu Weibing admits huge challenges from memory price hikes; invested RMB 16 billion in AI this year; Q4 revenue grew 7.3% year-on-year; adjusted profit of RMB 6.35 billion exceeded expectations (second edition).

【09:08】The Hang Seng Index futures rose about 91 points, at 25,138.

【07:45】【Morning Brief】Trump: Rubio and Vance involved in Iran negotiations; Xiaomi’s Q4 adjusted profit RMB 6.35 billion beats expectations.

【07:45】Signs of easing in Middle East conflicts; oil prices expected to fall. Night futures closed up 11 points, at 24,972; China concept stocks fell 0.4%, closing at 6,771.

| ADR | HKD Equivalent | Change from Hong Kong Close | | Meituan ADR | 78.12 | -1.11% | | Tencent ADR | 509.51 | -0.87% | | HSBC ADR | 124.10 | +0.41% | | Alibaba US Stock | 122.78 | -0.34% | | Baidu US Stock | 110.10 | -2.22% |

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【07:30】Multiple US media report that the US is engaging with Iran on a ceasefire plan. Iranian officials deny Trump’s claims of behind-the-scenes negotiations but confirm the US has sent messages and proposals. US stocks are soft; Dow fell 438 points to 45,769, closing down 84 at 46,124; S&P 500 down 0.4% at 6,556; Nasdaq down 0.8% at 21,761.